Whitecap Resources (TSE:WCP) Sets New 52-Week High – Time to Buy?

Whitecap Resources Inc. (TSE:WCP)’s share price hit a new 52-week high during trading on Tuesday . The company traded as high as C$13.37 and last traded at C$13.24, with a volume of 435513 shares traded. The stock had previously closed at C$13.16.

Analyst Ratings Changes

WCP has been the topic of a number of recent analyst reports. TD Securities boosted their price target on shares of Whitecap Resources from C$13.00 to C$14.00 and gave the stock a “buy” rating in a research note on Thursday, October 23rd. Capital One Financial upgraded Whitecap Resources to a “strong-buy” rating in a research report on Monday, October 27th. National Bank Financial increased their target price on Whitecap Resources from C$15.00 to C$16.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 3rd. Scotiabank lifted their price target on Whitecap Resources from C$14.00 to C$15.00 and gave the company a “hold” rating in a research note on Tuesday, January 20th. Finally, Raymond James Financial increased their price objective on Whitecap Resources from C$14.00 to C$15.00 and gave the stock a “strong-buy” rating in a research report on Thursday, October 23rd. Three analysts have rated the stock with a Strong Buy rating, three have issued a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Whitecap Resources has a consensus rating of “Buy” and a consensus target price of C$14.50.

Whitecap Resources Trading Up 3.7%

The firm has a market cap of C$16.51 billion, a price-to-earnings ratio of 12.04, a PEG ratio of -0.33 and a beta of 0.69. The business has a fifty day moving average of C$11.92 and a two-hundred day moving average of C$11.14. The company has a debt-to-equity ratio of 21.58, a quick ratio of 0.67 and a current ratio of 0.88.

Whitecap Resources Company Profile

Whitecap Resources Inc is engaged in the business of acquiring, developing, and holding interests in petroleum and natural gas properties and assets. The company acquires assets with discovered petroleum initially in place and low current recovery factors. Light oil is the primary byproduct of Whitecap’s Canadian assets. To extract petroleum products from its resources, the company uses horizontal drilling, in addition to multistage fracturing technology. Crude oil is the leading revenue generator out of the basket of energy products sold by Whitecap.